The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-08-23
GENERAL RAILWAY NEWS.
Matters of Money AMI Management
About Various Lines.


The Gulf and Chicago Airline Railway
| company is making surveys for line from
Mobile, Ala, northward, and its President
| states that il has secured connection with
Chicago by IN agreement with the Chicago
and Eastern Illinois.
The indications are promising for one of
the most protracted ana bitter legal contests
the country has ever known, for the recov-
cry of damages for lives lost and injuries
sustained in the late disaster. on the Toledo,
Peoria and Western road
All previous records of rapid track-laying
have again been exceeded on the st. Paul,
Minneapolis and Manitoba extension in
Montana, where, it is stated, s. IL miles of
track were laid down from one end in a sim
gle day, Aug. IL. The best previous days
work on this road was ~ miles, and the
next best was G:3S miles on the Canadian
Pacific. This is an astonishing performance,
and yet it is claimed that mile more would
have been laid on the 18th had not one of the
iron cars broken down.
Memphis Ledger. The people of Nash
VILE seem to be quite stirred up in regard to
the Midland railroad, which has been start
cd in that direction in West Tennessee
Possibly they will conclude to vote a sub
scription TO the enterprise as Knoxville did
to two railroads the other day. II is rather
remarkable fact that the capital of the
State, with all its booming and solid wealth,
has not had new railroad for about sixteen
years. Yet in spite of this the city has
grown steadily all the while The building
of the Midland railroad through from Mem
phis to East Tennessee via Nashville, would
be an immense benefit to that city and give
it new life, as well as develop new coun-
try for n distance of several hundred miles,
ThBt the road will be built from Memphis
to the Tennessee river, and that it will be OK
tended on to Nashville over upper East
Tennessee, seems almost an assured fact.
A Montgomery, Ala, special of Aug 20
says: Mr. Voolfolk, the moving spirit of
the Alabama Midland railroad, returned
from the East to-day and says the speedy
building of this road is an assured fact
The officers of the company have carried
their negotiations to point where all doubt
of its immediate construction is removed.
The bonds of this road were placed with a
London syndicate of bankers, who have
sent over their expert engineer,
Mr.. Archibald Fairlie, now in
Montgomery, who commences inspecting
next week Pending his arrival,
very strong syndicate of New
York capitalists, also submitted bids for
these securities, which, on account of the
shortening of the distance to all Atlantic
and Gulf points, in connection with the
fine local territory, is a guarantee to this
new road which insures its being one of the
largest earning roads in Alabama It will
bring the Florida Railway and Navigation
Company and the Savannah, Florida and
Western into Montgomery and Selma to
the Midland. the large freight and tourist
business of these two lines amounting to
over 100000 tons and 600.0 passengers.
Work begins this fall and will be pushed
with vigor to IA speedy completion.
The Commercial and Financial Chroni-
Gle reports the gross earnings of sixty-seven
roads from January l to June 80, 1887
S24S, 064, 49, increase of S32 500, 100 over
same time in 1886: operating expenses $685.
OILS, 1SS, increase of SIG, 279 1872; net earn
ings SS5, 04s, y35, increase of S16,4E, 577.
Excellent showing is made by the Southern
roads as class, they reporting steady and
continuous gains month by month. Gross
earnings of sixty-nine roads for first week
of August, were $4,062,027 increase of
S5O2,3S7. Gross earnings of twenty nine
roads for second week of August, were
81, 54S, 524, increase of S342, 1919.
KeT7ldn's Wall Street Su,nmar1I-The
Southern people who last year engineered
the rise in Richmond Terminals and affili-
ated securities, are trying to gather their
forces in order to take advantage of any
furry i'll the market which may come
along. They talk to their friends of mar
Vicious crops in the South, the increasing
prosperity and the new capital which could
be obtained for Wall street purposes il ma
nipulation as at present exists did not put a
damper on outside speculative temper.